The
Urjit Patel recommendations for RBI to
pursue the single objective of inflation
targeting via interest rate control follows
textbook Neo Keynesian model that belie
recent experiences.
*
This article was originally published
in the Economic and Political Weekly,
March 1, 2014, vol xlIX no 9
http://www.epw.in/system/files/pdf/2014_49/9/Offtarget_on_
Monetary_Policy.pdf
February 25, 2014.
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